Merger Termination

The SPAC's stockholders in July approved an extension date for the merger deadline to Jan. 7, 2023. The deal was valued at $805 million.

Just days ago OceanTech filed a preliminary proxy in which it proposed a merger deadline extension from Dec. 2 until June 2, 2023. The SPAC in the proxy said it needed more time to finalize the Captura deal.

G Squared in June had agreed to provide Transfix with up to an additional $50 million of committed capital whether or not the deal closed.

No termination fee will be owed by either side and no explanation was given for calling off the deal, which was announced less than four months ago.

The deal was announced less than three months ago.

The SPAC's shareholders earlier this month voted in favor of the deal -- and gave Cohn Robbins until December to complete the merger.

The parties in March cut tado's enterprise value to EUR 400 million from approximately EUR 450 million.

There were concerns from the UK that Atom Bank – currently valued at just under GBP 500 million – would go public in New York after reported interest from a SPAC run by Wilbur Ross, the commerce secretary under former President Donald Trump.

As previously reported, Blackstone's parent company declined to loan Ackrell the $200,000 requested under a June promissory note for up to $600,000. As of yesterday, the SPAC had not received the loan, which was required as a deposit into its trust in order to receive another deadline extension on the merger.

At announcement, the transaction was expected to deliver $182 million in gross proceeds.